Our daily TLDR of important AI news you should know about.
Digital India Act will deal with ill effects of AI, says MoS Chandrasekhar
The aim of the Digital India Act (DIA) 2023 is to deal with the ill effects of artificial intelligence (AI) and it will succeed the current IT Act, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Friday.
- At present, the IT Act, which is about 22 years old, does not even mention the word internet, he said. “To regulate AI as an ecosystem, the Digital India Act will have to be enacted which will deal with all the harms of AI,” Chandrasekhar said while speaking at the 12th edition of Sadhguru Academy’s (formerly Isha Leadership Academy) flagship program, INSIGHT: The DNA of Success kicked off on Thursday at Isha Yoga Center, here.
- By 2026, it is expected that 1.2 billion Indians will be having direct, un-intermediated access to the internet, he noted. Over 250 delegates are participating in the 12th edition of INSIGHT, being held from November 23-26 at the Isha Yoga Centre, Coimbatore.
‘AI Blowback’ angst grips ESG fund managers who bet big on tech
Exposure to AI now represents a “short-term risk to investors,” said Marcel Stotzel, a London-based portfolio manager at Fidelity International.
- ESG fund managers who turned to big tech as a low-carbon, high-return bet are growing increasingly anxious over the sector’s experimentation with artificial intelligence.
- The ESG investing industry may be more exposed to such risks than most, after taking to tech in a big way. Funds registered as having an outright environmental, social and good governance objective hold more tech assets than any other sector
Nvidia delays launch of new China-focused AI chip
The U.S. export curbs have created an opportunity for rivals such as Huawei to win orders that may have otherwise gone to Nvidia, whose graphics processing units (GPUs) dominate the AI market.
- Nvidia has told customers in China it is delaying the launch of a new artificial intelligence chip it designed to comply with U.S. export rules until the first quarter of next year, two sources familiar with the matter said.
- The delayed chip is the H20, the most powerful of three China-focused chips Nvidia has developed to comply with fresh U.S. export restrictions, the sources said, and could complicate its efforts to preserve market share in China against local rivals like Huawei.